On 31 July 2007, the European Commission (EC) and the European Science Foundation (ESF) signed the contract for ESF to continue to provide and manage the administrative, technical and scientific secretariat of COST (European Cooperation in Science and Technology) under the Seventh Framework Programme (FP7).

The Official Journal of the European Union of 30 December 2006 volume L 400, reported that on 19 December 2006 the Council of the European Union adopted a Decision concerning the Specific Programme "Cooperation" implementing the Seventh Framework Programme of the European Community. The Decision stated that of the total “Cooperation budget” of 32413 EUR million at least EUR 210 million and up to EUR 250 million should be attributed to COST, subject to the mid-term evaluation. This financial support will be provided through a grant which will be paid on the basis of a grant agreement between the Commission and a legal entity designated by COST as its implementing agent and communicated to the Commission by the General Secretariat of the Council and identified in the Work Programme.